The purpose of this paper is to study unfunded social security systems in the framework of an economy submitted to demographic and technological shocks. The emergence of transfers between generations rests on a motive of rreal and possible inequalities correction or on a portfolio choice.
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Paper provided by Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. in its series Papers with number
99-26.
Length: 21 pages Date of creation: 1999 Date of revision: Handle: RePEc:fth:pnegmi:99-26
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Find related papers by JEL classification: H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions